New Year, New Home Goals?
🎉 New Year, New Home Goals? Let’s Chat! 🏡
Got homeownership on your 2025 vision board? 💭 Let’s dive into some of the most common questions I get this time of year:
Q: When should I start planning to buy a home?
A: Yesterday! 😉 But seriously, the earlier you start, the better. Whether it’s saving for a deposit or understanding your borrowing power, it pays to be prepared.
Q: How much deposit do I really need?
A: It depends! A 'standard' deposit is concerned 20% (or more) of the purchase price. However, it is possible to buy with as little as 5% depending on individual circumstances. Things like KiwiSaver and family gifts can make a big difference to bump up your deposit and get you closer to your goals.
Q: Is it worth buying with current interest rates?
A: It’s all about your long-term goals. Rates change, but getting on the ladder sooner could help you build equity. I can crunch the numbers to see what works for you. It is impossible to time the property market so if you think you'll 'wait for rates to go down' this could have a detrimental effect. Often, when rates are low, demand for properties is high which can increase property values.
Q: What if my credit score isn’t great?
A: Don’t worry—there are steps we can take to improve it. Let’s make 2025 the year you get your finances ready to impress the banks!
Q: Can I buy a home and still have a life?
A: YES! With the right plan, you can save for a home and still enjoy brunches, travel, and living your best life. It’s all about balance.
Q: How closely do banks look at my bank statements and spending habits? Should I be stressed about how much I spent on Christmas presents?
A: Nope, no need to panic! 🎄🍹 Lenders look at the bigger picture, not just a one-off festive splurge. It’s all about patterns over time, so enjoy the season without guilt. Just keep things balanced—2025 you will thank you! 🎉
👉 Got more questions?
Jenna
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